Underwater Homeowners Get a Life Raft

The travails of the housing market in recent years are well documented. The prevalent symbols of this down-turn are the "underwater" homeowners, who owe more on their mortgages than their homes and- Worth. Millions of such homeowners have mort-gages backed by Fannie Mae or Freddie Mac, and fully 80% of those owners haven't missed any mortgage payments. One way out of the predicament of the underwater owner is the short sale. In which the owner sells the home unless … [Read More...]